Coles County Supervisor of Assessments





Homestead Exemptions

Homestead Exemptions are available for individuals who own and occupy real property as their principle residence within the State of Illinois. These exemptions are subtracted each year from the current equalized assessed valuation when calculating an individual's property tax bill. Some require only an initial application while others require annual renewals. All applications should be received by December 31 to be applied to the following year tax bill. Below is the list of all available Homestead Exemptions along with their corresponding forms and information.


General Homestead Exemption
This exemption is available for property that is owned and occupied as the principle residence of the property owner as of January 1st of the assessment year. It reduces the current year equalized assessed valuation (EAV) by a maximum of $6,000. The amount of the exemption is calculated by finding the increase in the current year EAV in comparison to the 1977 EAV, the base for this exemption. Increases of $6,000 or greater receive the full exemption and any with increases of less than $6,000 receive the amount of the increase only. This exemption requires a one-time application and becomes permanent as long as the individual(s) continue to own and occupy the property as their principle residence.


Senior Citizens Homestead Exemption (PTAX-324)
This exemption is available for property that is owned and occupied as the principle residence of a property owner who is sixty-five (65) years of age or older at any time during the assessment year. It reduces the current year EAV by $5,000. This exemption requires a one-time application and becomes permanent as long as the individual continues to own and occupy the property as their principle residence. Along with the application, this exemption requires proof of age in the form of a driverís license, state identification card, Medicare card, or birth certificate.


Senior Citizens Assessment Freeze Homestead Exemption (PTAX-340)
This exemption is available for property that is owned and occupied as the principle residence of a property owner who is sixty-five (65) years of age or older from January 1st of the previous assessment year to January 1st of the current assessment year and whose total household income is $55,000 or less for the previous year. This exemption creates a base year (the year prior to the year of initial application) and a base amount (the EAV of the year prior to the year of initial application). The actual amount of the exemption varies year-to-year by taking the current year EAV and subtracting the base year EAV. This exemption requires an annual application based on the household income of the prior year and must be notarized. Additional income verification may be necessary at the request of the Supervisor of Assessments and/or Board of Review.


Homestead Exemption for Persons with Disabilities (PTAX-343)
Annual Verification for the Homestead Exemption for Persons with Disabilities (PTAX-343-R)
Physicianís Statement for the Homestead Exemption for Persons with Disabilities (PTAX-343-A)
This exemption is available for property that is owned and occupied as the principle residence of a property owner as of January 1st of the assessment year and who is currently considered disabled for at least twelve (12) continuous months. It reduces the current year EAV by $2,000. This exemption requires an initial application (Disabled Personís Homestead Exemption) and documentation of disability: a class 2 or 2A Illinois Person with Disability Identification Card, proof of Social Security Administration, Veterans Administration, Railroad, or Civil Service disability benefits, or a Physicianís Statement for the Homestead Exemption for Persons with Disabilities (form listed above). After the first year of the initial application, the Annual Verification for the Homestead Exemption for Persons with Disabilities (form listed above) must be filed to retain this exemption. If necessary, documentation of disability may be required with the renewal form.


Application for Standard Homestead Exemption for Veterans with Disabilities (PTAX-342)
Annual Verification of Eligibility for Standard Homestead Exemption for Veterans with Disabilities (PTAX-342-R)
This exemption is available for property that is owned and occupied as the primary residence by a veteran with a disability, or the veteran's surviving spouse, as of January 1st of the assessment year. If the veteran has a service-connected disability of 30% or more but less than 50%, certified by the U.S. Department of Veteransí Affairs, then the annual exemption is $2,500. If the veteran has a service-connected disability of 50% or more but less than 70%, certified by the U.S. Department of Veteransí Affairs, then the annual exemption is $5,000. If the veteran has a service-connected disability of 70% or more, then the residential property is exempt from taxation under this Code. This exemption requires an initial application (Application for Standard Homestead Exemption for Veterans with Disabilities (PTAX-342)) and documentation of the disability through a certified copy of the DD 214 form and a Disability Certification Letter from the U.S. Department of Veteransí Affairs. After the first year of the initial application, the Annual Verification of Eligibility for Standard Homestead Exemption for Veterans with Disabilities (PTAX-342-R) (form listed above) must be filed to retain this exemption.


Returning Veterans' Homestead Exemption (PTAX-341)
This exemption is available for two (2) consecutive assessment years for property that is owned and occupied as the principle residence of a property owner who is returning from active duty in an armed conflict involving the armed forces of the U.S for the year they return from service and the following year after. It reduces the current year EAV and the following year EAV by $5,000. This exemption requires a one-time application and must include the following documentation: a certified copy of the DD 214 form or DD220 form.


Home Improvement Exemption
This exemption is available for four (4) consecutive assessment years for property that has undergone any new residential detached construction or new residential additions completed during the prior assessment year and that is owned and occupied as the principle residence of a property owner on January 1st of the current assessment year. It reduces the current year EAV and the following three (3) years EAV by the assessed value of the new improvements, up to a maximum of $25,000 EAV per year. Maintenance, such as siding, replacement windows, or a new roof does not qualify. No application is required for this exemption; it is automatically granted for property that has a general homestead exemption.


Natural Disaster Homestead Exemption (PTAX-327)
The Natural Disaster Homestead Exemption is an exemption on homestead property for a rebuilt residential structure following a natural disaster occurring in the taxable year 2012 or any taxable year thereafter. The amount of the exemption is the reduction in equalized assessed value (EAV) of the residence in the first taxable year for which the taxpayer applies for an exemption minus the equalized assessed value of the residence for the taxable year prior to the taxable year in which the natural disaster occurred. The exemption continues at the same amount until the taxable year in which the property is sold or transferred.




Contact Us

Coles County Courthouse
651 Jackson Ave.
Room 133
Charleston, IL 61920

Tel: 217-348-0508
Fax: 217-348-7363
assessment@co.coles.il.us